Safe Harbor
Management’s intentions, hopes, beliefs, expectations or predictions
for the future are “forward-looking” statements within the meaning
of the Private Securities Litigation Reform Act of 1995, which by
their nature involve known and unknown risks and uncertainties.
The Company’s actual results, performance or achievements
could differ materially from those expressed or implied by such
statements. Reference is made to the Company’s regulatory filings
with the Securities and Exchange Commission for information or
factors which may impact the Company’s performance.

8000 Sunset Strip Shopping Center
Los Angeles, CA

1

Platform
People
Processes
Technology
Institutional Knowledge
Equals

COMPETITIVE
ADVANTAGE.

2

River Oaks Shopping Center
Houston, TX

An Experienced Management Team With a Long-Term Perspective
About Weingarten Realty
• Founded in 1948
• IPO in 1985

Andrew M. Alexander

Johnny Hendrix

Stephen C. Richter

President and
Chief Executive Officer

Executive Vice President/
Chief Operating Officer

Executive Vice President/
Chief Financial Officer

• Quality portfolio that is
geographically diversified
• Shopping centers located in
high barrier-to-entry trade areas
and high growth markets

Average Tenure of Senior
Management is Over 25 Years

• Experienced management team
• Supermarket and necessity-based
retail anchored
• Consistently adhered to the same
core principles throughout its
60+ year history
• Completed disposition of
Industrial Portfolio in 2012
3

Average Tenure of Finance > 20 yr
Average Tenure of Operations > 15 yr
Average Tenure of Development > 13 yr

Decentralized Operating Platform Built On Local Expertise
Note: GLA in thousands of square feet, with year of entry into state

Over the last six years, we have acquired $0.7 billion of assets and
sold $2.1 billion of assets

Note: at prorata share
14

â&#x20AC;&#x153;We continue to
improve the quality
of the portfolio
through recycling
of capital by selling
non-core properties
and acquiring or
developing assets
in high barriers-toentry trade areas
within strong growth
markets.â&#x20AC;?
Johnny Hendrix
Executive Vice
President / Chief
Operating Officer

• Immigration
• Better business
environment / low tax
states
• Migration within the
United States (Baby
Boomers)

2%
1%

RPAI

KIM

FRT

REG

EQY

DDR

WRI

Represents job growth in WRI’s top 10 markets as compared to job growth in each
of our peers top 10 markets

16

Note: Results reflect January 2010 - June 30, 2012

Median Household Income Exceeds Our Peers
$80,000

Unadjusted for Cost of Living

$75,000
$70,000

$74,027
$69,924

Peer Average:
$62,681

$65,000
$60,000
$55,000

$53,339

$55,659

$56,743

$57,053

DDR

EQY

KIM

$50,000
$45,000
$40,000

WRI

$60,000

$52,500
$50,000
$47,500

Peer Average:
$50,944

$47,844

$48,132

KIM

EQY

$51,743

$52,628

FRT

$57,623

Adjusted for Cost of Living*

$57,500
$55,000

REG

$54,371

$45,000
$42,500
$40,000

17

* Weighted by NOI
Source: SNL Financial, STI Popstats

FRT

REG

DDR

WRI

“New York, like San
Francisco, is home to
many of the richest
Americans and bestpaying jobs. The
average paycheck
clocks in at $69,029,
fourth-highest in
the country, but high
costs, particularly
for housing, eat up
much of the local’s
pay: adjusted for
cost of living, the
average salary is worth
$44,605.”
Forbes.com
The Cities Where a
Paycheck Stretches the
Furthest, 7/9/12

• The Center is the regional retail component of the larger 700 acre,
Mixed-Use Mueller Airport redevelopment project
• With its location convenient to UT & downtown Austin, it is quickly
becoming a major destination within the MSA with complementary
components including the Dell Children’s Hospital, UT Research
Campus, Austin Film Studios, 5,700 new homes and two planned
hotels all sharing cross access, parking, and entrance points.

LANCASTER DRIVE

Population:
1 Mi: 15,595
3 Mi: 153,893
5 Mi: 324,449

Average Household Income:
1 Mi: $63,998
3 Mi: $60,249
5 Mi: $69,828

Property Size: 351,099 SF
19

Recent Acquisitions

Sea Ranch Centre
Sea Ranch Lakes, FL

• Located near Fort Lauderdale, FL on a barrier island
• Anchored by high volume Publix grocery
• High barrier to entry location with the only Publix east of
the inter-coastal waterway
• Property serves the middle to upper income areas of Sea
Ranch Lakes, Lauderdale by the Sea and Pompano Beach

Percentage College
Graduates:
1 Mi: 51.5%
3 Mi: 49.5%
5 Mi: 44.5%

Average Household
Income:
1 Mi: $98,000
3 Mi: $90,000
5 Mi: $81,000

Property Size: 100,000 SF
20

Recent Acquisitions
Independence Plaza
Laredo, TX

• High volume HEB anchored shopping center
complemented by TJ Maxx and Ross Dress for Less
• Located in the largest population growth area of
all metro areas in Texas influenced by the influx of
Mexican nationals and jobs created by Eagle Ford

New Development
Hilltop Village Center | Alexandria, VA
• Anchored by Wegman’s, the premier grocer in the Northeast
• Dynamic mixed-use project with 250,000 sf retail and 100,000 sf office space upon completion
• Located north of Ft. Belvoir, the largest employer of Fairfax Co. and an important Military Intelligence facility
Population:
1 Mi: 7,458
3 Mi: 80,658
5 Mi: 253,717
CLE

Stock Price Performance - As of October 31, 2013
Closing Stock Price
As of 10/31/13

YTD

$31.73

WRI

$16.95

DDR

$24.11

EQY

$103.60

FRT

$21.48

KIM

$51.66

REG

$14.31

RPAI

18.5%
8.2%
14.8%
-0.4%
11.2%
9.6%
19.6%

Peer Avg

10.5%

FNSHO

8.8%
4%

30

8%

12%

16%

20%

Valuation Shows - It’s a Good Time to Buy WRI
Stock Multiple
25.0

23.4X
20.0X 19.8X

20.0

16.4X 16.3X 15.4X

15.0

14.1X

10.0
5.0

Often finding an
undervalued REIT with
“best in class” brand
identity can be difficult;
however, Weingarten
Realty Investors (WRI)
is considered a highquality REIT that has
an exceptional track
record of delivering on its
promises for investors,
tenants and customers.
Forbes.com

Summary - Weingarten Executing Our Strategy
• Further improving operations and leasing our portfolio back to 95 plus percent occupancy
- Through 9/30/13, occupancy is 94.4%, up 80 basis points from a year ago and same property NOI for
the quarter was 4.7%

• Transforming the portfolio through recycling of capital by selling non-core properties
and acquiring or developing assets in high barrier-to-entry trade areas within strong
growth markets
- Over the last six years, average base rents increased 24% and average household income increased 14%
- Acquired $0.7 billion of assets and sold $2.1 billion of assets including the sale of our Industrial Portfolio

• Deleveraged our balance sheet to improve our financial position
- Debt to market cap has decreased to 37.8% and net debt to EBITDA to 6.10x